WASHINGTON, July 6 (Reuters) – The U.S. Chamber of Commerce and over 40 trade associations on Monday urged top American and Chinese officials to redouble efforts to implement a Phase 1 trade agreement signed by the world’s two largest economies in January despite pandemic-related strains.
In a letter to U.S. Treasury Secretary Steven Mnuchin, U.S. Trade Representative Robert Lighthizer and Chinese Vice Premier Liu He, the groups said they were encouraged by the progress so far, but urged a significant increase in China’s purchases of U.S. goods and services.
They said combating the novel coronavirus pandemic and restoring global growth depended in part on the successful implementation of the U.S.-China trade deal, which helped defuse a nearly 18-month trade war marked by tit-for-tat tariffs.
accelerated implementation of the trade deal would help both countries while paving the way for Phase 2 talks on other key issues such as subsidies, cybersecurity, and digital trade, they said.
“Amid increasing bilateral tensions across the relationship, working together to improve trade and grow commerce can provide important benefits to both economies and help to improve relations,” they wrote in the letter.
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